Zacks Investment Research Lowers BB&T (BBT) to Hold

Zacks Investment Research lowered shares of BB&T (NYSE:BBT) from a buy rating to a hold rating in a research report sent to investors on Friday morning.

According to Zacks, “Shares of BB&T have outperformed the industry so far this year. The company has a decent earnings surprise history, having surpassed the Zacks Consensus Estimate in two of the trailing four quarters. Consistent growth in loans and deposits, higher interest rates, focus on non-interest income growth and inorganic growth strategy will likely to support revenues further. Also, the company’s enhanced capital deployment plan reflects strong balance sheet position. However, elevated expense levels remain a major concern for the company. Further, significant exposure to risky loans is a headwind.”

A number of other analysts also recently weighed in on BBT. BMO Capital Markets reissued a buy rating and set a $59.00 target price on shares of BB&T in a research report on Thursday, July 12th. Piper Jaffray Companies reissued a hold rating and set a $52.00 target price on shares of BB&T in a research report on Friday, July 20th. B. Riley decreased their target price on shares of BB&T from $59.00 to $56.00 and set a buy rating for the company in a research report on Friday, July 20th. FIG Partners downgraded shares of BB&T from an outperform rating to a market perform rating in a research report on Friday, July 20th. Finally, Stephens restated a buy rating and set a $59.00 price target on shares of BB&T in a report on Friday, July 20th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and fourteen have given a buy rating to the stock. BB&T has a consensus rating of Buy and a consensus target price of $54.58.

NYSE:BBT opened at $48.99 on Friday. The company has a market cap of $37.59 billion, a price-to-earnings ratio of 15.60, a PEG ratio of 1.04 and a beta of 1.05. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.88 and a quick ratio of 0.88. BB&T has a fifty-two week low of $44.62 and a fifty-two week high of $56.31.

BB&T (NYSE:BBT) last released its earnings results on Thursday, July 19th. The insurance provider reported $0.99 earnings per share for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.02). The firm had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.92 billion. BB&T had a net margin of 22.53% and a return on equity of 11.02%. The business’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.77 EPS. On average, sell-side analysts expect that BB&T will post 4 EPS for the current year.

In other BB&T news, insider Donta L. Wilson sold 3,018 shares of the stock in a transaction that occurred on Friday, August 3rd. The stock was sold at an average price of $51.55, for a total transaction of $155,577.90. Following the transaction, the insider now directly owns 14,911 shares in the company, valued at approximately $768,662.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.51% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. IMA Wealth Inc. bought a new position in shares of BB&T in the 2nd quarter worth $116,000. First PREMIER Bank lifted its holdings in shares of BB&T by 64.9% in the 2nd quarter. First PREMIER Bank now owns 2,540 shares of the insurance provider’s stock worth $128,000 after purchasing an additional 1,000 shares in the last quarter. First Republic Investment Management Inc. lifted its holdings in shares of BB&T by 65.1% in the 1st quarter. First Republic Investment Management Inc. now owns 192,950 shares of the insurance provider’s stock worth $141,000 after purchasing an additional 76,093 shares in the last quarter. Ostrum Asset Management bought a new position in shares of BB&T in the 1st quarter worth $143,000. Finally, Mount Yale Investment Advisors LLC bought a new position in shares of BB&T in the 1st quarter worth $155,000. Institutional investors own 64.65% of the company’s stock.

BB&T Company Profile

BB&T Corporation operates as a financial holding company that provides various banking and trust services for small and mid-size businesses, public agencies, local governments, and individuals. The company operates through four segments: CB-Retail, CB-Commercial, IH&PF, and FS&CF. Its deposit products include noninterest-bearing checking, interest-bearing checking, savings, and money market deposit accounts, as well as certificates of deposit and individual retirement accounts.

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